Thanks for the reply Al.
I've just had a quick look at Dynomotion' KFLOP and Kanalog combination package, and it looks impressive! My only worry is that KmotionCNC software looks very basic and has minimal functionality to support Lathe use (mostly seems to be mills / routers). Whereas Mach3Turn seems to be much more accommodating if I use the Kmotion Mach plugin.
Plus, Mach3 is has a huge range of supporting CAM software, which is a must for me as the majority of my work is done via CAD.
My goal is to have a relatively simple to use setup in which I can transfer drawings to CAM to create G-code to upload to Mach3Turn. As well as the standard lathe functionality it is essential I am able to incorporate the tool changer, spindle speed / dir and most importantly single point threading reliably.
While I look into whether I can use the existing drives, can someone recommend replacement drives capable of running my Indramat MAC 090A AC motors? http://manuali.eltex.biz/Manuali_Indramat/Motor_MAC.pdf